by ABIP | Mar 4, 2022 | Accounting, Taxes
Shifting Tax Regulations in the U.S. & Abroad While there is incredible uncertainty as we move into 2022, there are a couple of major events tax teams should be tracking, as their outcomes could make a big difference for the 2022 tax landscape and well beyond....
by ABIP | Mar 3, 2022 | Individuals, News, Newsletter, Taxes
The credit for other dependents is a tax credit available to taxpayers for each of their qualifying dependents who can’t be claimed for the child tax credit. The maximum credit amount is $500 for each dependent who meets certain conditions. These include:...
by ABIP | Mar 3, 2022 | Individuals, News, Newsletter, Taxes
Social Security benefits include monthly retirement, survivor, and disability benefits; they do not include Supplemental Security Income (SSI) payments, which are not taxable. Generally, you pay federal income taxes on your Social Security benefits only if you have...
by ABIP | Mar 2, 2022 | Individuals, News, Newsletter, Taxes, Uncategorized
While not all mistakes on tax returns cause delays in refunds, as the April 18 deadline approaches, taxpayers are advised to steer clear of the common tax return errors listed below to ensure a timely refund. Not Using Electronic Filing While this isn’t...
by ABIP | Mar 2, 2022 | Individuals, News, Newsletter, Taxes
Many taxpayers opt for the standard deduction, but sometimes itemizing your deductions is the better choice – often resulting in a lower tax bill. Whether you bought a house, refinanced your current home, or had extensive gambling losses, you may be able to take...
